The most expensive yacht of all time was purchased by United Arab Emirates President Sheikh Khalifa for $627 million.
Wealth-X looked at the most expensive luxury assets billionaires across the world have bought, and the megayacht, dubbed “Azzam,” topped the list.
Azzam measures 590 feet. The yacht was bought this year.
Wealth-X calculates that the value of the yacht is merely 3.5 percent of Sheikh Khalifa’s net worth of US$17.9 billion.
UAE President Sheikh Khalifa Bin Zayed al Nahyan, also known as Sheikh Khalifa, exchanges gifts with Queen Elizabeth II in November 2010. (John Stillwell – Pool/Getty Images)
Previously, the biggest yacht in the world was the Eclipse, owned by Russian tycoon Roman Abramovich (553 feet).
Behind the massive yacht, Larry Ellison’s purchase of Lanai Island in Hawaii in 2012 is ranked as the second most expensive luxury asset ever bought. The island cost $500 million. Ellison is CEO of Oracle.
Abramovich’s yacht is third, costing $485 million.
Larry Ellison. (Justin Sullivan/Getty Images)
The Eclipse. (Joern Pollex/Getty Images)
A yacht owned by Russian vodka tycoon Yury Shefler came in fourth at $330 million.
Another yacht owned by Russian businessman Andrey Melnichenko, costing $323 million, was fifth.
Rounding out the top 10 are four more yachts, and a home in Monaco bought by Dmitry Rybolovlev, another Russian businessman, for $286 million.